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Board member Engelken asked how the Board will regain losses if the business fails. Mr. Livingston <br /> responded the property will be improved. Mr. Livingston also advised the figures are based on the two <br /> years the restaurant has been in business at the Baytown location. <br /> Kris Gant, with Gantstein Esquire, LLC, advised the Board that both the restaurant and parking lot are <br /> under contract. <br /> Board member Engelken questioned if there would be outdoor noise and late hours activity in the <br /> parking lot from patrons that would disturb the neighborhoods.borhoods. Mr. Gant responded the Pipeline Grill Is <br /> a restaurant and not a bar and the servers are required to be TABC certified and Gantstein Esquire, <br /> LLC, has a strict policy not to sell too much alcohol to one individual. <br /> Board member Martin commented he would be more comfortable awarding an economic development <br /> grant at 25 percent instead of"no more than $300,000." <br /> Board member Martin moved to authorizing Staff to publish 60-day notice of a public hearing to <br /> consider awarding an economic development grant to Gantstein Esquire, LLC, for an amount not to <br /> exceed $300,000 or equal to 25% of the project expenditures not to exceed $300,000. Board member <br /> Ojeda seconded. MOTION PASSED. <br /> Ayes: President Warren, Vice-President Cooksley, Board members <br /> Ojeda, Engelken and Martin <br /> Nays: None <br /> Absent: Board members Clausen and Woodard <br /> 3. SET DATE FOR NEXT MEETING—S. Livingston <br /> Board members set the next meeting dates for Monday, February 9, 2015, at 5:00 p.m. and Monday, <br /> February 23, 2015, at 5:00 p.m. <br /> 4. STAFF REPORTS <br /> (a) Receive Financial Report—M. Dolby <br /> Finance Director Michael Dolby provided a report. <br /> Economic Development Coordinator Scott Livingston reported he is awaiting a letter from Project <br /> Nebula/lneos confirming they will not be moving forward with the second phase of the project and will report <br /> back to the Board in March. <br /> 5. BOARD MEMBER COMMENTS regarding matters appearing on agenda; recognition of community <br /> members, city employees, and upcoming events; inquiry of staff regarding specific factual information <br /> or existing policies. <br /> Board member Ojeda asked about the lot that is for sale by Rob Johnson. Economic Development <br /> Coordinator Livingston advised he will inquire of Mr. Johnson to confirm if the lot is for sale. <br /> 6. ADJOURN <br /> There being no further business, Vice-President Cooksley moved to adjourn the meeting at 5:44 p.m. <br /> Board member Martin seconded. MOTION PASSED. <br /> Page 2 of 3 <br /> January 26,2015, La Porte Development Corporation Board Minutes <br />